Nebraska has become the first state saying that they will not comply with the Biden administrations plan to allow the IRS to view any transactions a person makes a transaction over $600.
Nebraska State Treasurer John Murante said that they will not comply and if the administration sues he will take it all the way to the Supreme Court.
Murante, along with the treasurers and auditors for 24 other states, recently sent President Joe Biden a letter opposing the proposed plan.
“As State Treasurer, I have an obligation to safeguard the personal information of hundreds of thousands of these accounts and it’s absolutely wrong to ask American citizens who haven’t even been accused of wrongdoing to turn over their private bank information to the federal government. There’s no excuse for it,” Murante said on Thursday.
Murante hopes other states will join Nebraska and stand against this massive invasion of privacy.
“This could lead to a tremendous invasion of privacy the likes of which our country has never seen. Millions of law-abiding Americans would suddenly have their bank accounts opened to federal investigators for no more reason than buying a refrigerator. This is simply unconscionable. To make matters worse, under this proposal, saving for college could put an American family on the IRS’s radar,” Murante said in a statement.
“I don’t typically engage in legislation that’s going through the Congress, but on an issue like this, it’s something that myself and many of my colleagues across the country believe that we have to stand up and fight,” Murante said.
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